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Dec 5, 2012
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the deficit right now is. the notion that something terrible will happen if we don't deal with the deficit right away. the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial spending cuts, substantial tax increases at a time when the dme is still very weak. of course that's a recipe for sliding back into recession. we set ourselves up with the land mine and the road in front of our economy which is not based on anything real, it's just based on our politicalness. >> ifill: speaking of political mess, both sides have what they say are opening gambits on the table. president obama at least his last week which calls for $1.6 trillion in revenues. the republicans came back with their own yesterday. as you look
the deficit right now is. the notion that something terrible will happen if we don't deal with the deficit right away. the fiscal cliff is a very different story. that's about reducing the deficit too fast. >> ifill: you call it an austerity bomb. describe what you mean by that. >> what's happening is that we are scheduled, unless something is done basically to do to ourselves gratuitously what has been happening to some of the european economies. we're going to have substantial...
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Feb 1, 2012
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of this administration we've had at least a trillion-dollar-a-year deficit. it's important to remember the president got everything he wanted the first two years. we're living in the obama economy. >> holman: at the white house, spokesman jay carney argued the president has done his part to cut spending. he said the real problem is the other side steadfastly rules out tax hikes. >> what has been lacking thus far is the way to deal with revenue in any meaningful way by the republicans. that is just not the approach that the broad base of the american public feels is the right way to go. >> holman: the congressional budget office study said if the bush-era tax cuts were allowed to lapse, the deficits would drop sharply. consumer nfidence fell in january, after two months of gains. the conference board, a business research group, blamed worries about higher gasoline prices and overall business conditions. that was enough to slow wall street some. the dow jones industrial average lost more than 20 points to close below 12,633. the nasdaq rose about two points to
of this administration we've had at least a trillion-dollar-a-year deficit. it's important to remember the president got everything he wanted the first two years. we're living in the obama economy. >> holman: at the white house, spokesman jay carney argued the president has done his part to cut spending. he said the real problem is the other side steadfastly rules out tax hikes. >> what has been lacking thus far is the way to deal with revenue in any meaningful way by the...
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Dec 7, 2012
12/12
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captioning sponsored by macneil/lehrer productions >> brown: with no compromise in sight for a deficit deal, president obama pressed his case at the home of a middle class family in virginia today, part of his pitch to extend tax cuts for all but the very wealthy. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour" tonight, we update the state of the negotiations and examine the push to make changes to social security and medicare >> brown: then, margaret warner looks at the political strife in egypt, after deadly clashes in the streets and resignations by top officials. >> woodruff: we have a battleground dispatch from a coastal city facing rising sea levels and the next big storm. >> if sandy were to come close or directly into norfolk i think we'd all be in big trouble. >> brown: we assess the latest diplomatic moves to end syria's war, as secretary of state hillary clinton meets with russia's foreign minister. >> woodruff: and ray suarez has the story of a program that aims to put students at low-achieving schools on a path to high school graduati
captioning sponsored by macneil/lehrer productions >> brown: with no compromise in sight for a deficit deal, president obama pressed his case at the home of a middle class family in virginia today, part of his pitch to extend tax cuts for all but the very wealthy. good evening, i'm jeffrey brown. >> woodruff: and i'm judy woodruff. on the "newshour" tonight, we update the state of the negotiations and examine the push to make changes to social security and medicare...
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Dec 7, 2012
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now answer your question, social security has not added a penny to the federal debt, to the deficits every year. it has a surplus. it has a surplus of $2.7 trillion. so why are we in such a rush to change a program that does not have -- is not bankrupt, has a surplus, has 22 years of solvency before it does have a serious problem and has not contributed to the federal debt? >> and we can talk about these programs separately. we know that social security is considered to be in sounder shape than is medicare which is viewed as potentially running out of funds in the next few years, whereas social security -- but let's take them one at a time. when it comes to social security you have the simpson-bowles deficit reduction commission saying that if you don't deal with these programs you just can't be serious about getting your arms around this country's huge debt and deficit crisis. >> well, i go back to where i started. this program didn't add to the debt, hasn't contributed to the debt. we're not saying -- we're not a group that has our heads in the sand and is committed to never doing
now answer your question, social security has not added a penny to the federal debt, to the deficits every year. it has a surplus. it has a surplus of $2.7 trillion. so why are we in such a rush to change a program that does not have -- is not bankrupt, has a surplus, has 22 years of solvency before it does have a serious problem and has not contributed to the federal debt? >> and we can talk about these programs separately. we know that social security is considered to be in sounder...
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Dec 12, 2012
12/12
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exports dropped in october by the most in nearly four years, and the trade deficit grew nearly 5%. the commerce department said the gap topped $42 billion. stl, wall reet managed to make some gains. the dow jones industrial average added 78 points to close at 13,248. the nasdaq rose 35 points to close at 3022. russia is resisting the latest u.s. appeal to help force syrian president bashar al-assad out of office. that word came today in the russian newspaper, "kommersant." it said moscow is convinced assad will not go voluntarily, no matter what pressure is applied. meanwhile, u.s. defense secretary leon panetta said chances of the syrian regime resorting to chemical weapons may be easing. he spoke during a flight to kuwait. we have seen not seen anything new indicating any aggressive steps to move forward in that way, but we continue to monitor it very closely. we continue to make clear to them that they should not under any means make use of these chemical weapons against their own population. >> sreenivasan: also today, the united nations reported the number of syrian refugees f
exports dropped in october by the most in nearly four years, and the trade deficit grew nearly 5%. the commerce department said the gap topped $42 billion. stl, wall reet managed to make some gains. the dow jones industrial average added 78 points to close at 13,248. the nasdaq rose 35 points to close at 3022. russia is resisting the latest u.s. appeal to help force syrian president bashar al-assad out of office. that word came today in the russian newspaper, "kommersant." it said...
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Feb 16, 2012
02/12
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it talks about deficit reduction. it talks about lowering taxes for the middle-class as an ongoing theme in his agenda. many of these outside groups did not say the same thing when the republicans put the savings from the overseas wars in their budgets. so this is a legitimate place. the savings are there that can be used to offset other investments. but it is, again, a continuation of what the president started when it came into office and he made that statement. reduce the deficit, create jobs, lower taxes to the middle-class, do so by investments in education and innovation into health care, into energy initiatives of which he is in the lead. what's also important about it, though, and important to note, that the new president made that statement he was basing his figures on the information given to him by the commerce department of the previous administration which either didn't know or didn't tell what the actual fiscal situation was. >> woodruff: we are launching into an election year. in the last campaign, mada
it talks about deficit reduction. it talks about lowering taxes for the middle-class as an ongoing theme in his agenda. many of these outside groups did not say the same thing when the republicans put the savings from the overseas wars in their budgets. so this is a legitimate place. the savings are there that can be used to offset other investments. but it is, again, a continuation of what the president started when it came into office and he made that statement. reduce the deficit, create...
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Feb 8, 2012
02/12
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but greece is really the extreme case because the excesses of deficit, of public deficit in the case of greece, had been over many years so high, so extreme, that it would have been hard, let's face realities, to have a soft landing from those excesses of deficit without a recession. but in more general terms, i think there is a valid point if we say that europe needed to be put in a safer place as regards the public finances of each member-state, thanks to german and other pressures we can say that most of us are there or nearly there. now without going back to fiscal undislynn, the time has come to focus more energies on how collectively we can achieve more growth in europe. >> warner: do you think there's a danger of a back lash here in italy against what they may see as e.u.- imposed changes to their way of life that are very, very painful? what are you seeing? >> there was such a risk of back lash, and it is there more generally... well, let me say a word about italy. i try to avoid that back lash by always presenting the necessary sacrifices that italians have to go through not
but greece is really the extreme case because the excesses of deficit, of public deficit in the case of greece, had been over many years so high, so extreme, that it would have been hard, let's face realities, to have a soft landing from those excesses of deficit without a recession. but in more general terms, i think there is a valid point if we say that europe needed to be put in a safer place as regards the public finances of each member-state, thanks to german and other pressures we can say...
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Feb 7, 2012
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he won 54% of catholic voters in 2008 turning around the deficit that senator kerry had suffered four years earlier. we find catholic voters about 20% of the u.s. electorate is catholic. in some swing states they make up as much as a third of the electorate in places like wisconsin and pennsylvania and new mexico. one other thing to know about the catholic vote is a lot of latinos are catholic. we know latinos will be a crucial voting group this time. and they tend to be many latinos tend to be conservative socially. it seems to me that president obama has kind of opened a fight on this that may not... that may create some problems for him down the road. >> this is exactly right. look, we've had battle lines on abortion have been drawn for a long time. we know there are pro-choice catholics and pro-life catholics. they won't chak their views. they're going to vote the parties the way they have. but there are enough kass yul voters, independent voters who are catholic, swing voters in key states that they could determine who wins some of the key states. >> ifill: let's talk about casua
he won 54% of catholic voters in 2008 turning around the deficit that senator kerry had suffered four years earlier. we find catholic voters about 20% of the u.s. electorate is catholic. in some swing states they make up as much as a third of the electorate in places like wisconsin and pennsylvania and new mexico. one other thing to know about the catholic vote is a lot of latinos are catholic. we know latinos will be a crucial voting group this time. and they tend to be many latinos tend to be...
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Aug 2, 2012
08/12
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it is not a plan to create jobs, it is not a plan to reduce the deficit, it is not a plan to build our middle class, it is not a plan to move our economy forward. >> woodruff: mr. obama again highlighted a study by the non- partisan tax policy center that concluded romney's proposal would provide large tax cuts to high-income households, and increase the tax burdens on middle and/or lower-income taxpayers. but eric fehrnstrom, a top romney adviser, called the report, quote, "a joke" and raised questions about its impartiality and methodology. the sharpened debate on tax fairness underscores the importance both campaigns have placed on middle-class voters. a recent "nbc news-wall street journal" poll gave mr. obama a 16-point lead on romney when it comes to who would better look out for the middle class. for a closer look at what exactly is in the romney tax proposal, at the heart of this political fight, we turn to bill gale of the tax policy center. he is a co-author of the report in question. and scott hodge of the also non- partisan tax foundation, has a different read on the romney
it is not a plan to create jobs, it is not a plan to reduce the deficit, it is not a plan to build our middle class, it is not a plan to move our economy forward. >> woodruff: mr. obama again highlighted a study by the non- partisan tax policy center that concluded romney's proposal would provide large tax cuts to high-income households, and increase the tax burdens on middle and/or lower-income taxpayers. but eric fehrnstrom, a top romney adviser, called the report, quote, "a...
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Dec 14, 2012
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a new pew research center poll out today shows: three-quarters said deficit reduction should come from cutting major programs and increasing taxes. majorities disapprove of specific cuts to education, infrastructure, defense and anti-poverty programs. and just more than half oppose raising the eligibility age for social security and medicare. while both sides have proposed cuts and changes to medicare, only limited specifics have been released. >> woodruff: now, for more on what the public thinks about how the leaders are handling the negotiations and the debate over cuts to medicare, we turn to ray suarez. he begins with the pew research center poll. he talked about it a short time ago with the pew research center's andrew kohut. >> suarez: andy kohut, welcome. you've been measuring public attitudes since election day. is it shifting in a way that gives president obama a stronger hand in dealing with republican leaders as we approach the fiscal cliff? >> no question. he's gotten a lot of -- he has a lot of capital with the public. his approval ratings have surged to 55%. a point of co
a new pew research center poll out today shows: three-quarters said deficit reduction should come from cutting major programs and increasing taxes. majorities disapprove of specific cuts to education, infrastructure, defense and anti-poverty programs. and just more than half oppose raising the eligibility age for social security and medicare. while both sides have proposed cuts and changes to medicare, only limited specifics have been released. >> woodruff: now, for more on what the...
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Dec 28, 2012
12/12
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that's a healthy start but such a baby step when you're debading $100 billion out of a $1.3 trillion deficit. that's not draconian, that's not even that serious. >> warner: let me ask you this. the tea party has been since its -- at least inception when it burst on the national scene in '09 against the obama health care plan. been very vocal, had rallies and protests voiced its view and put pressure on lawmakers. they have not done that this -- in this go-round. there's no rallies calling on members of congress to stand firm against any compromise. what what explains that? >> i think it's a seshl movement and it's evolved dramatically from those protests in 2009. we were involved in those and those were very important at that time. you're seeing an evolution in developing sophistication at the very local level amongst activists. they're very aware of what's going on on the fiscal cliff. they're very aware of what a budget resolution is and you see that pressure applied to both republicans and democrats. >> warner: quietly. >> well, we're not a protest movement anymore. we're something else.
that's a healthy start but such a baby step when you're debading $100 billion out of a $1.3 trillion deficit. that's not draconian, that's not even that serious. >> warner: let me ask you this. the tea party has been since its -- at least inception when it burst on the national scene in '09 against the obama health care plan. been very vocal, had rallies and protests voiced its view and put pressure on lawmakers. they have not done that this -- in this go-round. there's no rallies calling...
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Jul 11, 2012
07/12
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also gave spain an extra year to cut its deficit. and speaking in brussels, the spanish finance minister welcomed the aid but acknowledged there's still much work to be done. >> ( translated ): during the next 18 months, we have to clean up the spanish financial system. that also relates to a macroeconomic aspect: the deleveraging of the spanish economy. that's the reduction of spanish debt and adjusting the prices of assets to reality of the market. we can do this thanks to the financial assistance. >> sreenivasan: the bailout boosted the spanish stock market. other european markets were cautiously optimistic, closing with slight gains. in early trading on wall street, stocks moved higher, but those gains were erased by falling oil prices. the dow jones industrial average lost 83 points to close at 12,653. the nasdaq fell 29 points to close at 2,902. the price of oil fell more than 2% to finish near $84 a barrel. there was word today syrian president bashar assad has agreed to a new u.n. plan for peace. the international envoy kofi
also gave spain an extra year to cut its deficit. and speaking in brussels, the spanish finance minister welcomed the aid but acknowledged there's still much work to be done. >> ( translated ): during the next 18 months, we have to clean up the spanish financial system. that also relates to a macroeconomic aspect: the deleveraging of the spanish economy. that's the reduction of spanish debt and adjusting the prices of assets to reality of the market. we can do this thanks to the financial...